Earkart Q2 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹160 Cr
- P/E
- 32.36
- ROE
- 11.70%
- PEG
- 0.58
- Price to sales
- 2.95
- Debt to equity
- 0.00
- 52W high / low
- ₹243 / ₹104
- EBITDA margin
- 15.45%
- Net profit margin
- 9.12%
- Promoter holding
- 57.34%
- Sales (last year)
- ₹54 Cr
Earkart an Indian tech-driven hearing healthcare company dedicated to making advanced audiology services and hearing aids more accessible, affordable, and transparent. Listed on the BSE SME platform, it operates across India and neighboring countries, specializing in both manufacturing and distributing modern digital hearing solutions
Guidance scorecard · Q2 FY26 call
What Earkart Limited's management guided
and where it ranks in Healthcare Equipment & Supplies
Healthcare Equipment & Supplies
RevenueQ2 FY26 call
20–40%- Earkart aims to reach approximately ₹300 crore turnover in 5 years (by 2030).
- Targeting 500 to 550 clinic installations by FY 2027, with installation cost per device around ₹2.7 lakh per clinic.
- Expecting a compound annual growth rate (CAGR) of about 25% this year and aiming to sustain similar growth next year.
- Private sector revenue share expected to grow to about 70% within 5 years, with government orders range-bound around 20-30%.
- Revenue from clinics expected to rise significantly, e.g., from 110 clinics generating roughly ₹10-11 crore at full capacity.
- Focus on expanding geographical presence across India, moving from North to West, South, and eventually East.
2 more points from Earkart Limited's call on revenue
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MarginsQ2 FY26 call
FlatSee what Earkart Limited said on margins — free account, 30 seconds.
CapexQ2 FY26 call
Planned- The company has planned installation of around 500 to 550 clinics by the end of FY 2027.
- The installation cost per device is approximately ₹2.7 lakh per clinic.
- Recent IPO proceeds include unutilized funds sufficient to cover the capex for clinic installations.
- By the time 350 installations are achieved, the business model is expected to become self-sustaining.
- Expansion involves hiring more employees and setting up new infrastructure to support growth.
- Investments are also being made in improving the OMNI Audiometer for better efficiency and availability.
- Strategic expansion planned geographically from North India towards West, South, and eventually East India.
2 more points from Earkart Limited's call on capex
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FundraisingQ2 FY26 call
See what Earkart Limited said on fundraising — free account, 30 seconds.
Order bookQ2 FY26 call
Rising- Earkart has already secured government orders worth approximately ₹9 crores in the current fiscal year.
- Four government tenders, usually opening before September, were deferred but two have already opened, with 2-3 more expected to open in the second half of the fiscal year.
- The second half of the year is expected to see a significant scale-up in order inflows due to these tender openings.
2 more points from Earkart Limited's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Healthcare Equipment & Supplies
on management's own guidance
- Strong growth2
- Strong growth1
- Q-Line BiotechGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Healthcare Equipment & Supplies companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹627 Cr | 21.4 | |
| 2 | 40%+ | Flat | ₹147 Cr | 16.8 | |
| 3 | Q-Line Biotech | 20–40% | Up 2%+ | ₹1,467 Cr | 25.9 |
| 4 | 20–40% | Flat | ₹18,144 Cr | 83.6 | |
| 5 | EarkartThis stock | 20–40% | Flat | ₹173 Cr | 35.0 |
| 6 | 10–20% | Up 2%+ | ₹170 Cr | 18.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Healthcare Equipment & Supplies rankingFinancials of Earkart Limited
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Earkart Limited
Quarterly Results
Quarter-by-quarter operating performance
Financials of Earkart Limited
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Sales + | 5.66 | 28.92 | 31.75 | 43.11 |
| Expenses + | 5.52 | 27.29 | 28.17 | 33.32 |
| Operating Profit | 0.14 | 1.63 | 3.58 | 9.79 |
| OPM % | 2.47% | 5.64% | 11.28% | 22.71% |
| Other Income + | 0.04 | 0.05 | 0.21 | 0.09 |
| Interest | 0.01 | 0.08 | 0.36 | 0.44 |
| Depreciation | 0.06 | 0.15 | 0.19 | 0.42 |
| Profit before tax | 0.11 | 1.45 | 3.24 | 9.02 |
| Tax % | 0.00% | 9.66% | 5.86% | 23.61% |
| Net Profit + | 0.11 | 1.31 | 3.06 | 6.88 |
| EPS in Rs | 22.00 | 262.00 | 612.00 | 6.59 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% |
Financials of Earkart Limited
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.05 | 0.05 | 10.44 | 13.75 |
| Reserves | 4.72 | 6.49 | 12.97 | 9.48 | 52.31 |
| Borrowings + | 0.27 | 1.23 | 4.02 | 4.96 | 5.62 |
| Other Liabilities + | 0.91 | 6.96 | 2.21 | 5.41 | 6.50 |
| Total Liabilities | 5.95 | 14.73 | 19.25 | 30.29 | 78.18 |
| Fixed Assets + | 0.22 | 0.25 | 1.06 | 1.17 | 1.61 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 1.46 | 0.10 | 0.19 | 0.83 | 0.83 |
| Other Assets + | 4.27 | 14.38 | 18.00 | 28.29 | 75.74 |
| Total Assets | 5.95 | 14.73 | 19.25 | 30.29 | 78.18 |
Financials of Earkart Limited
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Cash from Operating Activity + | -2.83 | -0.30 | -1.00 | 0.71 |
| Cash from Investing Activity + | -1.78 | 0.40 | -1.29 | -1.32 |
| Cash from Financing Activity + | 4.68 | 0.41 | 3.08 | -0.41 |
| Net Cash Flow | 0.07 | 0.51 | 0.80 | -1.01 |
| Free Cash Flow | -3.11 | -0.48 | -1.99 | 0.18 |
| CFO/OP | -2,007% | -17% | -22% | 30% |
Financials of Earkart Limited
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 104.47 | 59.32 | 72.89 | 157.23 |
| Inventory Days | 138.26 | 100.90 | 113.12 | 95.52 |
| Days Payable | 92.17 | 107.33 | 19.28 | 44.04 |
| Cash Conversion Cycle | 150.56 | 52.89 | 166.73 | 208.70 |
| Working Capital Days | 192.17 | 60.83 | 108.06 | 139.02 |
| ROCE % | 23.89% | 29.02% | 45.13% |
Continue your research
What Earkart Limited's management said in earlier quarters
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